MasterCard announced recently that it will deploy a target of 410,000 MasterCard® PayPassTM-enabled point of sale (POS) terminals throughout Japan over the next three years, enabling travellers visiting the country to enjoy the speed and convenience of making contactless transactions.
PayPass, which is presently accepted at approximately 866,000 merchant locations in 51 countries, is offered by more than 200 issuers worldwide. In February, MasterCard announced strong growth of contactless payments on MasterCard-enabled cards across the Asia/Pacific, Middle East and Africa region in 2012, citing a 28% (YoY) increase in merchant locations, reflecting a strong demand from consumers in the region for simple and secure ways to make everyday payments.
The early adoption and penetration of contactless payments in Japan, ahead of other countries, saw transactions amounting to over 2 trillion yen in 2011, according to the Bank of Japan. Contactless payments continue to expand at a rapid rate, in part due to the increased use of NFC payments.
MasterCard contactless payments can be made at popular retailers including Macy’s, Walgreens and Toys R Us in the U.S.; Transport for London, Marks & Spencer and Carrefour in Europe; city taxis in Singapore and Taiwan; and Shin Kong Mitsukoshi, 7-Eleven and Starbucks in several locations across Asia.
MasterCard contactless payments are ideal for everyday spend, and in Japan, signatures have not been required for MasterCard contactless purchases under JPY10,000 (equivalent to USD95) since October 2012 for greater ease and convenience. The 410,000 MasterCard contactless terminals will be deployed by domestic card companies including Mitsubishi UFJ NICOS, Sumitomo Mitsui Card, Orient Corporation and UC Card.
Robert Luton, division president of MasterCard Japan said, “Consumers around the world are embracing the contactless payment experience. With the introduction of MasterCard’s contactless terminals across the country, cardholders traveling from abroad will get the benefit of safe and secure contactless payments in Japan. We look forward to providing more contactless payments opportunities for cardholders around the globe when they visit Japan, through a wider range of MasterCard-enabled cards and devices.”